Trump proposes cap on credit card interest at 10% (for a year)

[BS Filter]

Congress doesn't have that power either.

Every credit card holder signed agreements on interest rates when they got the card.

The organization that may have been able to do something about the usurious rates has been dismantled by the tRumplings. CFPB.

Trump also doesn't have the power to blow up drug boats, Bomb Iran, send illegals home, take over Venezuela, or free the hostages from Hamas, but he did it.

 

[Darlo kittu]

Trump also doesn't have the power to blow up drug boats, Bomb Iran, send illegals home, take over Venezuela, or free the hostages from Hamas, but he did it.

I am delighted he is

 

[BS Filter]

I am delighted he is

Yes, the real Americans are very happy.

 

[LordBrownTrout]

Yep, same here. I pay every bill I have online with a card that pays a flat 2% rate back on everything. Of course I don’t pay things that charge a surcharge for using the car, but none of my utilities or other bills do. Pay off the bill at the end of the month. Free money. I only wish I could pay my property taxes with the card without paying a surcharge which is greater than the 2% I earn.

Yeah same here on the property taxes.

 

[yidnar]

View attachment 1203918

so you're saying that Congress doesn't have the power to do what Trump is calling for ..

 

[yidnar]

Bernie Sanders has had a temporary ten percent limit on credit card interest bill in the Senate for almost a year now.

the bill was introduced by Sanders and republican Josh Hawley ..

 

[yidnar]

Yes, what a hoot. The sponsor for HR 1944 is AOC, for S. 381 it is Bernie Sanders.

is a bipartisan bill ..

WSJ Editorial Board: Hawley-Sanders Interest Rate Cap Bill Would Restrict Consumers’ Access to Credit - consumerbankers.com

WASHINGTON, D.C. – The Wall Street Journal Editorial Board recently penned a piece in response to misguided legislation introduced by Senators Bernie Sanders (I-Vt.) and Josh Hawley (R-Mo.) that would place government price controls on credit cards highlighting research and data that shows how...

consumerbankers.com

 

[1srelluc]

MSN

President Donald Trump on Friday called for a one-year, 10% cap on credit card interest rates, saying the American public is being “ripped off” in a Truth Social post.

Trump called for the cap to come into effect on January 20, the one-year anniversary of his return to the White House. But he did not specify how a cap might happen, including whether he was calling for voluntary participation from credit card companies or looking for government mechanisms to enforce his proposal.

In his post, Trump cited “AFFORDABILITY!” as a rationale for the temporary cap, which he also proposed on the campaign trail in September 2024.

The cost-of-living issue has become a source of increasing frustration for many Americans and a political liability for Trump and Republicans. Years of accumulated inflation have heaped on price pressures, and Trump blamed his predecessor, former President Joe Biden, for high credit card rates.

Or CC companies could just stop issuing them to those that can't afford them.

I figure 10% will just ensure nobody with under a 750 credit score gets a unsecured credit card....As it should be.

BTW....He's calling for them to cap. He didn't say he was capping.

 

[Admiral Rockwell Tory]

MSN

President Donald Trump on Friday called for a one-year, 10% cap on credit card interest rates, saying the American public is being “ripped off” in a Truth Social post.

Trump called for the cap to come into effect on January 20, the one-year anniversary of his return to the White House. But he did not specify how a cap might happen, including whether he was calling for voluntary participation from credit card companies or looking for government mechanisms to enforce his proposal.

In his post, Trump cited “AFFORDABILITY!” as a rationale for the temporary cap, which he also proposed on the campaign trail in September 2024.

The cost-of-living issue has become a source of increasing frustration for many Americans and a political liability for Trump and Republicans. Years of accumulated inflation have heaped on price pressures, and Trump blamed his predecessor, former President Joe Biden, for high credit card rates.

Or CC companies could just stop issuing them to those that can't afford them.

I figure 10% will just ensure nobody with under a 750 credit score gets a unsecured credit card....As it should be.

Aren't you the one always saying "Dupe"?

 

[pknopp]

Manufacturing won't be happy with only those with a 750 score getting a card.

 

[1srelluc]

I suspect the vile dems don't want affordability issues to be addressed.

I remember a time when it was hard to get a unsecured CC, even with very good credit.

 

[80zephyr]

When I was a young teen(1970's) I read a Readers Digest article about how our government broke up a loan shark gang that was charging an astounding 12% interest.

Lol.

 

[JGalt]

I suspect the vile dems don't want affordability issues to be addressed.

I remember a time when it was hard to get a unsecured CC, even with very good credit.

Of course they don't, it's "Trump."

If Biden/Harris had came up with an idea like that, the despicable left would have been all in.

 

[odanny]

Trump the Kingmaker.

How about he actually do something about student loan interest? So many young people are shouldering loans that they can barely afford to pay the interest on.

 

[pknopp]

Of course they don't, it's "Trump."

If Biden/Harris had came up with an idea like that, the despicable left would have been all in.

And MAGA would be yelling SOCIALISM.

 

[Hafar1014]

I dont believe he has that power only congress can do that

 

[White 6]

MSN

President Donald Trump on Friday called for a one-year, 10% cap on credit card interest rates, saying the American public is being “ripped off” in a Truth Social post.

Trump called for the cap to come into effect on January 20, the one-year anniversary of his return to the White House. But he did not specify how a cap might happen, including whether he was calling for voluntary participation from credit card companies or looking for government mechanisms to enforce his proposal.

In his post, Trump cited “AFFORDABILITY!” as a rationale for the temporary cap, which he also proposed on the campaign trail in September 2024.

The cost-of-living issue has become a source of increasing frustration for many Americans and a political liability for Trump and Republicans. Years of accumulated inflation have heaped on price pressures, and Trump blamed his predecessor, former President Joe Biden, for high credit card rates.

Or CC companies could just stop issuing them to those that can't afford them.

I figure 10% will just ensure nobody with under a 750 credit score gets a unsecured credit card....As it should be.

BTW....He's calling for them to cap. He didn't say he was capping.

So, now going to direct price controls, nationally, at his own notion. Not exactly free enterprise. People that did not control their spending, when interest averaged 23.79% will do better when the money is less than half the price?

 

[1srelluc]

So, now going to direct price controls, nationally, at his own notion. Not exactly free enterprise. People that did not control their spending, when interest averaged 23.79% will do better when the money is less than half the price?

Did you even read the title?

Trump "calls for".....The CC companies would have to play ball.

 

[Crepitus]

MSN

President Donald Trump on Friday called for a one-year, 10% cap on credit card interest rates, saying the American public is being “ripped off” in a Truth Social post.

Trump called for the cap to come into effect on January 20, the one-year anniversary of his return to the White House. But he did not specify how a cap might happen, including whether he was calling for voluntary participation from credit card companies or looking for government mechanisms to enforce his proposal.

In his post, Trump cited “AFFORDABILITY!” as a rationale for the temporary cap, which he also proposed on the campaign trail in September 2024.

The cost-of-living issue has become a source of increasing frustration for many Americans and a political liability for Trump and Republicans. Years of accumulated inflation have heaped on price pressures, and Trump blamed his predecessor, former President Joe Biden, for high credit card rates.

Or CC companies could just stop issuing them to those that can't afford them.

I figure 10% will just ensure nobody with under a 750 credit score gets a unsecured credit card....As it should be.

BTW....He's calling for them to cap. He didn't say he was capping.

Already been done.

Thread 'Trump proposes cap on credit card interest at 10% (for a year)'

Jan 9, 2026

Im not sure how I think about this. It is clear that the average citizen needs a break but generally rates for good borrowers are offset by higher rates for higher risk borrowers. Coupled with potential tariff checks to citizens, he could secure the mid terms. He is certainly being creative

• shockedcanadian
• Replies: 191
• Forum: Politics

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And lowering CC rates won't solve the affordability issue, it will just put it on credit.

 

[1srelluc]

Trump the Kingmaker.

How about he actually do something about student loan interest? So many young people are shouldering loans that they can barely afford to pay the interest on.

How about not issuing unsecured CCs to students at all?

Their parents can top them off as needed or students could get a part time job and top them off themselves.

The average student credit card interest rate is currently about 23.04% as of mid-2025.

IMHO that should be illegal on it's face.